I just heard the buzz in film financing circles that The Weinstein Company had to writedown $50 million of Goldman Sachs’ money this week. It’s reportedly taking the loss because of those four films it dumped into next year, Crossing Over, Killshot, Fanboys and Shanghai, plus The Road… (And let’s face it: who in their right mind thinks even one of those pics is going to make a dime of profit in 2009?) So Harvey will just sit tight between this weekend’s Zack And Miri from Kevin Smith (ugh, the ads look terrible ), and The Reader at the end of December, hoping — more like praying — that Quentin Tarantino’s 2009 Inglorious Bastards (domestic/TWC, international/Universal) can break TWC’s box office drought. Can Goldman Sachs afford to wait? (Full Disclosure: I own 27 shares of Goldman Sachs stock.)
The -$50 Million Weinstein Company?
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